With a rising wedge pattern, this will continue it's bearish downtrend.
Why short it?
- Bearish chart pattern
- MACD ready to cross signals into bearish territory
- RSI - close to being overbought
What is the final confirmation to look for?
- If 4hr closes below the 20 day MA
This shorting opportunity can give at least 100 pips with a 3:1 Risk/Reward Ratio for a conservative trader
Why short it?
- Bearish chart pattern
- MACD ready to cross signals into bearish territory
- RSI - close to being overbought
What is the final confirmation to look for?
- If 4hr closes below the 20 day MA
This shorting opportunity can give at least 100 pips with a 3:1 Risk/Reward Ratio for a conservative trader